610 score, previous repo fell off, and was DENIED, HELP!

Need a car ASAP - WAS DENIED BY MY CREDIT UNION - Any advice on any of what I have included would change my life in a great way.

How do I get approved? I can pay cash for the car up front, but I am trying to build credit through the credit union who offered me 8% if was approved, but i was denied because of insufficient credit history. I have 3 months veriable income of 3K per month, and 2 years of income earned outside the USA, printed in a different language but absolutley valid.

610 score EXPERIAN 611 TU, 593 EQUIFAX, 6 Inquires in past 2 months,

Positive Score Factors

You have at least 4 open accounts on your credit history.

You are wisely using your credit cards, and have kept the average amount of debt on your cards below 15 percent of the card limit.

You paid all your credit cards on time in the recent past.

Negative Score Factors

You have applied for credit 6 time(s) in the recent past.

You have an unpaid amount on at least one installment account that is in collection and/or " Past Due".

Your credit history shows a large proportion of 'Charge-off" and "Collection" accounts.

option of putting all the money for the car into a secured loan with my FCU, where they will give 5%

I have the option of putting all the money for the car into a secured loan with my FCU, where they will give 5% interest and with each payment some money gets given back to me, but i wouuld have to have that entire amount tied up until loan or lease is paid off

Re: 610 score, previous repo fell off, and was DENIED, HELP!

OP, do you have any loans reporting like student loans, mortgages, etc. If so, adding a car loan won't help your FICO any because your installment mix is already satisfied. Even if you didn't have any, any gains would be very, very minimal. IMO, paying thousands in interest isn't worth a few points at best.

What I would do though is focus on repair and buy a beater if needing a car to get your from here to there. Focus on repair and within 2-3 months, you could have most if not all baddies removed. Check out Rebuilding Your Credit for more info.

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